10/31/2023 0 Comments Lop gold hack dignity oneArbitrade claimed that the DIG token was backed by gold bullion worth $10 billion, a claim perpetuated by Cryptobontix, with each of the three billion DIG tokens backed by $1 worth of gold. The SEC claims that Hogg employed developers to create Dignity in 2017, an Ethereum-based token which was owned and controlled by Cryptobontix. The lawsuit, which was filed on Friday, charges Bermudan company Arbitrade and its COO Stephen Braveman, Canadian firm Cryptobontix and its founder Troy Hogg and two other individuals, one of which, Max Barber, ran an alleged pump and dump scheme involving the cryptocurrency Dignity (DIG) from 2017 to 2019. No Dignity for Hogg, Braverman, Barber et al The scam, which bears a passing resemblance to Meta 1 in their reliance on a fake gold backing, netted the perpetrators over $36 million between 20, and the SEC wants the projects’ leaders to pay up. The Securities and Exchange Commission (SEC) has launched proceedings against two firms that made false claims and misrepresentations to investors, including that their tokens were backed by $10 billion in gold bullion. The companies behind the scam claimed that the DIG coins were backed by $10 billion in gold bullion The agency accuses two companies and a range of individuals of lying to investors over the coin’s backing The SEC is going after the Dignity scam from 2017 which earned its creators $36.8 million.
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